Portola Pharmaceuticals (NASDAQ:PTLA) Lowered to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Portola Pharmaceuticals (NASDAQ:PTLA) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Portola Pharmaceuticals, Inc. is a biopharmaceutical company .It focuses on the development and commercialization of therapeutics for thrombosis, other hematologic disorders and inflammation. Portola Pharmaceuticals, Inc. is headquartered in South San Francisco, California. “

Other analysts have also issued research reports about the company. William Blair reissued a buy rating on shares of Portola Pharmaceuticals in a research report on Friday, August 9th. Cowen reissued a buy rating and issued a $45.00 target price on shares of Portola Pharmaceuticals in a research report on Thursday, August 8th. Morgan Stanley set a $37.00 target price on Portola Pharmaceuticals and gave the company a hold rating in a research report on Friday, August 9th. ValuEngine lowered Portola Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, May 1st. Finally, Credit Suisse Group reissued a neutral rating and issued a $35.00 target price on shares of Portola Pharmaceuticals in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $41.43.

Shares of NASDAQ PTLA opened at $30.41 on Tuesday. The company has a debt-to-equity ratio of 453.47, a current ratio of 3.63 and a quick ratio of 3.61. Portola Pharmaceuticals has a 52-week low of $14.81 and a 52-week high of $37.95. The business’s 50 day moving average is $27.06 and its two-hundred day moving average is $30.29.

Portola Pharmaceuticals (NASDAQ:PTLA) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.13. The company had revenue of $28.42 million for the quarter, compared to analyst estimates of $25.42 million. Portola Pharmaceuticals had a negative return on equity of 352.12% and a negative net margin of 379.94%. The firm’s quarterly revenue was up 608.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.61) earnings per share. Sell-side analysts expect that Portola Pharmaceuticals will post -3.83 EPS for the current fiscal year.

In other news, Director Hollings Renton sold 5,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the director now owns 18,194 shares of the company’s stock, valued at $545,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Portola Pharmaceuticals by 2.6% during the second quarter. Vanguard Group Inc. now owns 5,985,834 shares of the biopharmaceutical company’s stock worth $162,396,000 after acquiring an additional 151,150 shares during the period. BlackRock Inc. grew its stake in shares of Portola Pharmaceuticals by 3.6% during the second quarter. BlackRock Inc. now owns 5,324,948 shares of the biopharmaceutical company’s stock worth $144,466,000 after purchasing an additional 186,304 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Portola Pharmaceuticals by 20.3% during the second quarter. William Blair Investment Management LLC now owns 4,997,224 shares of the biopharmaceutical company’s stock worth $135,575,000 after purchasing an additional 842,354 shares in the last quarter. Cadian Capital Management LP grew its stake in shares of Portola Pharmaceuticals by 2.9% during the second quarter. Cadian Capital Management LP now owns 4,091,687 shares of the biopharmaceutical company’s stock worth $111,007,000 after purchasing an additional 116,789 shares in the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of Portola Pharmaceuticals during the first quarter worth $53,590,000.

About Portola Pharmaceuticals

Portola Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes novel therapeutics in the areas of thrombosis and other hematologic disorders and inflammation in the United States. The company offers Andexxa, an antidote for patients treated with rivaroxaban and apixaban when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding; and Bevyxxa (betrixaban), an oral, once-daily Factor Xa inhibitor for the prevention of venous thromboembolism in adult patients hospitalized for an acute medical illness.

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